Welcome to our dedicated page for Whitehorse news (Ticker: WHF), a resource for investors and traders seeking the latest updates and insights on Whitehorse stock.
WhiteHorse Finance, Inc. (NASDAQ: WHF) is a business development company that focuses on originating and investing in loans to privately held, lower middle market companies across a broad range of industries. This news page aggregates company-issued press releases and related coverage so readers can follow how WhiteHorse Finance reports on its portfolio, distributions, and corporate actions over time.
Recent news items for WhiteHorse Finance, Inc. have centered on quarterly earnings results, regular and special distributions, and portfolio activity. The company frequently announces its financial results for each quarter, detailing total investment income, net investment income, net realized and unrealized gains or losses, net asset value per share, and the fair value and composition of its investment portfolio. These releases often highlight the mix of first lien secured loans, second lien loans, unsecured loans, equity holdings, and investments in STRS JV, as well as the weighted average effective yield on income-producing debt investments.
Investors following WHF news will also see updates on distributions per share declared by the board of directors, including periods where distributions have been at or above a stated level for many consecutive quarters since the company’s initial public offering. The company has announced special distributions in certain periods and has provided details on record dates and payment dates. In addition, news releases describe conference calls to discuss results, including dial-in information, replay options, and webcast availability.
Other notable news items include announcements of a stock repurchase program authorized by the board of directors, voluntary fee reductions by the company’s adviser for specified periods, and commentary from management on portfolio repositioning and underperforming investments. By checking this page regularly, readers can review WhiteHorse Finance, Inc.’s official communications on earnings, distributions, capital management actions, and portfolio developments.
WhiteHorse Finance (NASDAQ: WHF) provided an update on March 20, 2023, regarding the impact of Silicon Valley Bank (SVB) and Signature Bank (SBNY) on its operations. The company confirmed no direct exposure to these banks, holding no cash or lending agreements with them. However, a small portion of its portfolio, less than 10 companies, has exposure, totaling $60.1 million (7.9% of the portfolio's fair value) as of December 31, 2022. WhiteHorse does not anticipate material adverse effects from these exposures and maintains sufficient liquidity to support its portfolio companies if needed.
WhiteHorse Finance reported financial results for the year ended December 31, 2022, with a net asset value of $332.4 million, or $14.30 per share, down from $15.10 in 2021. The company declared a distribution of $0.355 per share and a special distribution of $0.07 per share for Q1 2023, payable on April 4, 2023. Fourth quarter net investment income was $11.1 million, or $0.476 per share, a significant increase compared to the same period last year. However, the company faced net realized and unrealized losses of $12.3 million for Q4 2022. The total investment portfolio stood at $760.2 million, with 81.3% in first lien secured loans, and the company committed an additional $25 million to its joint venture with STRS Ohio.
WhiteHorse Finance, Inc. (NASDAQ: WHF) will announce its fourth quarter and full year financial results for the year ending December 31, 2022, on March 2, 2023. A conference call will be held at 1:00 p.m. ET to discuss these results. Investors can join the call by dialing 800-245-3047 and referencing ID #WHFQ422. A replay will be available after the call until March 9, 2023. WhiteHorse Finance specializes in investing in loans for lower middle-market companies and is managed by H.I.G. WhiteHorse Advisers, an affiliate of H.I.G. Capital, which oversees over $53 billion of capital across various funds.
WhiteHorse Finance (NASDAQ: WHF) announced an increase in capital commitments to the WHF STRS Ohio Senior Loan Fund LLC joint venture by $25 million, with $15 million from WhiteHorse and $10 million from the State Teachers Retirement System of Ohio. This raises total commitments to $175 million. The WHF STRS JV, established in 2019, focuses on lower middle market senior secured debt facilities. Since inception, its portfolio has grown to over $280 million, consisting of 28 companies with a weighted average yield of 10.1% as of September 30, 2022. CEO Stuart Aronson emphasized the partnership's success and potential for shareholder value enhancement amid current market conditions.
WhiteHorse Finance (WHF) reported its financial results for Q3 2022, showcasing a net asset value of $343 million or $14.76 per share. The investment portfolio stood at $764.6 million with $39.5 million in gross investment deployments. Net investment income rose to $9.8 million, a 28.9% increase year-over-year. The board declared a distribution of $0.355 per share for Q4 2022, payable on January 4, 2023. Despite net realized and unrealized losses of $5.9 million, the company maintains a strong investment pipeline and a cautious approach amidst economic challenges.
WhiteHorse Finance announced a special distribution of $0.05 per share, payable on December 9, 2022, for stockholders of record by October 31, 2022. This distribution may include a return of capital and will be detailed in Form 1099-DIV.
The company will release its third-quarter financial results for the period ending September 30, 2022 on November 14, 2022, with a conference call scheduled for 1:00 p.m. ET.
WhiteHorse Finance (WHF) reported financial results for the quarter ending June 30, 2022, achieving a net investment income of $7.9 million, up 29.5% from the previous year. The net asset value stood at $347.4 million, or $14.95 per share, while the investment portfolio totaled $766.5 million. The Company declared a distribution of $0.355 per share for the quarter ending September 30, 2022, payable on October 4, 2022. Despite challenges, the diversified portfolio performed well with no investments on non-accrual status and nearly all debt investments indexed to floating rates, positioning the Company for potential earnings growth.
WhiteHorse Finance will release its second quarter financial results for the period ending June 30, 2022, on August 10, 2022. A conference call is scheduled for 1:00 p.m. ET to discuss these results. Investors can access the call by dialing 800-459-5346 or via the Company's website. A replay will be available for those unable to attend live. WhiteHorse Finance focuses on loans to privately held, lower middle market companies, managed by H.I.G. WhiteHorse Advisers, a significant player in the alternative asset management space.
WhiteHorse Finance reported Q1 2022 financial results, highlighting a net asset value of $347.9 million or $14.99 per share. The investment portfolio stands at $800.4 million, with gross deployments of $83.6 million, marking a record for Q1. Net investment income reached $8.5 million, or $0.368 per share, an increase from the previous year. The company declared a distribution of $0.355 per share, payable on July 5, 2022. The organization’s floating rate debt strategy positions it well for a rising interest rate environment.
WhiteHorse Finance, Inc. (Nasdaq: WHF) reported a significant portfolio update for Q1 2022. The company deployed approximately $86.1 million, while sales and repayments totaled around $47.7 million. Following these transactions, total investments at fair value decreased to about $800 million. Notably, a realization from Grupo HIMA San Pablo, Inc. resulted in a $6.9 million net loss, equating to a loss of 29.8 cents per share. The company will release its Q1 financial results on May 10, 2022.